The mission of the Department of Community and Economic Development (DCED) is to foster opportunities for businesses to grow and for communities to succeed and thrive in a global economy. Our mission is to improve the quality of life for Pennsylvania citizens while assuring transparency and accountability in the expenditure of public funds.

DCEDNewsroomGovernor Wolf Announces 153 New Jobs with Envestnet, Inc. Facility in Chester County

Governor Wolf Announces 153 New Jobs with Envestnet, Inc. Facility in Chester County

August 31, 2016

Release Date: August 31, 2016 2:14 pmAuthor: Heidi Havens

Harrisburg, PA – Governor Tom Wolf announced today that Envestnet, Inc., a provider of unified wealth management technology and services, has established a new location in Chester County, a move that will result in 153 new full-time jobs.

“Pennsylvania’s pro-business reputation continues to grow as more and more realize the unbridled potential the commonwealth offers,” Governor Wolf said. “Envestnet’s commitment to Pennsylvania and Chester County is a win-win, bringing 153 jobs that pay, helping to bolster the area and our state.”

Envestnet has leased approximately 60,000-square-feet of office space at 1000 Chesterbrook Boulevard, Berwyn, PA 19312, as part as the company’s long-term organizational alignment and growth plan. The facility will house part of the company’s operations and support servicing activities, including software development and support, technical analysis, product development, and systems engineering. The company will also make leasehold improvements and purchase equipment. Envestnet plans to invest at least $4.9 million in the project and has committed to creating 153 new full-time jobs over the next three years.

Envestnet received a funding proposal from the Department of Community and Economic Development that includes $459,000 in Job Creation Tax Credits to be distributed upon creation of the new jobs and $36,000 in WEDnetPA funding for employee training.

“We are proud to be able to contribute to the economies of Chester County and the Commonwealth of Pennsylvania,” said Bill Crager, president of Envestnet. “We have already welcomed 115 employees since moving into our facility in June, and we expect our team in Berwyn to include well above 153 professionals by the end of the year.”

The project was coordinated by the Governor’s Action Team, an experienced group of economic development professionals who report directly to the governor and work with businesses that are considering locating or expanding in Pennsylvania.